Vedanta Oil And Gas Projects

The SC has been hearing a dispute between Vedanta and the federal government related to an extension of the production-sharing contract for the Barmer asset in the western state of Rajasthan

While the stake sale talks could resume when oil prices stabilise, Vedanta may also explore other fundraising options to reduce its debt, people in the know said.

Vedanta Ltd is a diversified natural resources company, whose business primarily involves producing oil and gas, zinc- lead-silver, copper, iron ore

The recent spurt in global crude oil prices has resulted in Vedanta, the metals and mining major, putting its development and exploration projects on a fast track but issues of cess and higher profit petroleum continue to be a concern.Indian benchmark crude oil touched $61.54 a barrel on Thursday. Speaking to Business Standard, Sudhir Mathur, newly appointed chief executive for the Cairn oil and gas business at Vedanta, said, "We have started investing in a $1-billion programme which we expect to yield about 100,000 barrels of oil in the next 18-20 months. When oil prices go up, it allows us to take more risks. We had earlier decided to work on sweet spots first." Mathur said when oil prices started sliding, it was challenging and industry across the world went into despondency. "We had projects but they were viable at a $70 price. We took a conscious call to bring down our cost to $5-6 (a barrel) and rework the projects. The only project that went on was the Mangala enhanced oil ...